Fortis (TSE:FTS) Posts Earnings Results

Fortis (TSE:FTS) posted its quarterly earnings results on Thursday. The company reported C$0.90 earnings per share (EPS) for the quarter, FiscalAI reports. Fortis had a net margin of 14.53% and a return on equity of 7.48%. The business had revenue of C$3.08 billion for the quarter.

Fortis Trading Up 1.4%

Shares of Fortis stock traded up C$1.10 on Friday, reaching C$77.42. 2,457,795 shares of the company’s stock were exchanged, compared to its average volume of 1,817,058. The firm’s 50-day moving average is C$71.89 and its two-hundred day moving average is C$70.89. The company has a market capitalization of C$39.13 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 3.01 and a beta of 0.35. The company has a debt-to-equity ratio of 142.31, a quick ratio of 0.36 and a current ratio of 0.74. Fortis has a 52 week low of C$60.94 and a 52 week high of C$77.59.

Fortis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Sunday, March 1st will be given a $0.64 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.56 annualized dividend and a dividend yield of 3.3%. Fortis’s dividend payout ratio (DPR) is 73.21%.

Trending Headlines about Fortis

Here are the key news stories impacting Fortis this week:

• Positive Sentiment: Q4 earnings beat — Fortis reported C$0.90 EPS and C$3.08B revenue; commentary pointed to strong regulated utility growth and asset expansion. Fortis beats Q4 earnings expectations
• Positive Sentiment: Quarterly dividend declared — C$0.64 per share (annualized yield ~3.3%); ex-dividend date Feb 17, record date Mar 1. Income investors may favor the stock on the payout stability.
• Positive Sentiment: Desjardins raised its target to C$81 and kept a “buy” rating (largest upside among recent raises). BayStreet.CA
• Positive Sentiment: Raymond James raised its target to C$78.50 and kept an “outperform” rating, signaling continued bullish analyst view. BayStreet.CA TickerReport
• Neutral Sentiment: RBC and Scotiabank raised targets to C$80 (both keep “sector perform”) — modest upside but not full upgrades. BayStreet.CA
• Negative Sentiment: BMO lifted its target to C$77 and maintains a “market perform” rating — the target sits slightly below the recent price, implying limited upside/neutral-to-slightly-negative near term. BayStreet.CA

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FTS shares. National Bank Financial lifted their target price on Fortis from C$68.00 to C$72.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Scotiabank increased their price target on Fortis from C$79.00 to C$80.00 and gave the company a “sector perform” rating in a research note on Friday. BMO Capital Markets boosted their price objective on Fortis from C$74.00 to C$77.00 and gave the stock a “market perform” rating in a research report on Friday. Jefferies Financial Group dropped their target price on Fortis from C$72.00 to C$70.00 in a research report on Wednesday, January 28th. Finally, Raymond James Financial boosted their price target on Fortis from C$75.50 to C$78.50 and gave the stock an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$75.65.

Fortis Company Profile

Fortis owns and operates 10 utility transmission and distribution assets in Canada and the United States, serving more than 3.4 million electricity and gas customers. The company has smaller stakes in electricity generation and several Caribbean utilities. ITC operates electric transmission in seven U.S. states, with more than 16,000 miles of high-voltage transmission lines in operation serving a peak load in excess of 23 gigawatts.